Monday, January 19, 2026
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Short Pump Station
AcquisitionsRetailSoutheastVirginia

Cushman & Wakefield Arranges $46.8M Sale of Trader Joe’s-Anchored Shopping Center in Richmond

by Julia Sanders

RICHMOND, VA. — Cushman & Wakefield has arranged the sale of Short Pump Station, a 91,369-square-foot, grocery-anchored shopping center in Richmond. Wafra Inc., a global alternative investment manager, purchased the property for $46.8 million. Located at 11800 West Broad St., Short Pump Station is situated about 15.4 miles from downtown Richmond and is close to Route 288 and Interstates 64 and 295. The retail center is anchored by Trader Joe’s, Ulta Beauty and Petco, and was 91 percent leased at the time of sale. John Owendoff of Cushman & Wakefield represented the sellers, a joint venture between BayNorth Capital and AmCap Inc. Michael Zelin and Marshall Scallan of Cushman & Wakefield secured an undisclosed amount of acquisition financing for the buyer through an undisclosed life insurance company.

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Amazon
Company NewsDevelopmentMarylandRetailSoutheastVirginia

Amazon to Open New Delivery Stations, Career Center in Mid-Atlantic

by Julia Sanders

SEATTLE — Amazon is expanding its presence in the Mid-Atlantic by opening several new delivery stations and a career center in Maryland and Virginia. The first facility set to open is a 72,000-square-foot delivery station located at 2100 Van Deman St. in Baltimore, Amazon’s first delivery station in Baltimore City. The e-commerce giant also plans to open a 194,000-square-foot facility at 7226 Preston Gateway Drive in Hanover, Md., which will be Amazon’s third delivery station in the city. Since 2010, Amazon has created more than 29,000 jobs in Maryland, and the company has invested over $9.5 billion for infrastructure and compensation in the state. Additionally, Amazon announced it will open an Amazon Career Center at 1989 S. Military Highway in Chesapeake, Va. This center will be used for hiring and orientation duties for the company’s Hampton Roads operations facilities. Additionally, the company will open two new delivery stations in the area including a 165,000-square-foot facility at 1400 Sewells Point Road in Norfolk and a 111,600-square-foot facility at 223 W Mercury Blvd. in Hampton, which was formerly a Kmart store. Since 2010, Amazon has provided more than 27,000 jobs in Virginia. The company has 15 delivery stations in the Commonwealth.

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3901 Fairfax
DevelopmentOfficeSoutheastVirginia

Skanska to Build $129M Office Development in Arlington, Virginia

by Julia Sanders

ARLINGTON, VA. — Skanska USA will invest $129 million to build 3901 Fairfax, an office development in Arlington. Construction is expected to begin this month, and the project is slated for completion in 2023. 3901 Fairfax will be a nine-story, approximately 204,514-square-foot office building and will include a private rooftop deck, conference center, ground floor fitness center, 250-space parking garage with electric car charging stations, ground-floor retail space and a public plaza. Skanska USA received WELL Core Pre-certification for the project and will try to get LEED and WiredScore Gold certifications, as well as an Energy Star certification.

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Giant
AcquisitionsRetailSoutheastVirginia

Finmarc Management Sells Giant Food-Leased Property in Fairfax, Virginia for $39.8M

by Julia Sanders

FAIRFAX, VA. — Finmarc Management Inc. has sold a 76,000-square-foot, Giant Food-leased retail building in Fairfax. Signet Springfield, a limited liability corporation based in California, bought the property for $39.8 million. Located at 6364 Springfield Plaza in Fairfax County, the property is situated within Springfield Plaza, a shopping center with retail tenants such as AT&T, Chipotle Mexican Grill, David’s Bridal, CVS/pharmacy and Little Caesars Pizza. Situated along Commerce Street at the intersection of Old Keene Mill Road and Amherst Avenue, Springfield Plaza is located adjacent to Interstates 95 and 395. Last year, Giant Food relocated from Springfield Plaza to the current building under a long-term lease, replacing the Kmart who was the building’s former anchor. The Maryland-based grocer, Giant Food, had anchored Springfield Plaza since 1960 prior to the move. The new store features a full-service Starbucks Coffee shop with seating, as well as a PNC Bank branch. Ryan Sciullo, Chris Bosworth and Bill Kent of CBRE represented Finmarc Management, a Bethesda, Md.-based commercial real estate management and investment firm, in the transaction. David Chasin of Pegasus Investments represented the buyer.

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Sauer Industrial Center
AcquisitionsDevelopmentIndustrialSoutheastVirginia

Becknell Acquires 83.4 Acres in Henrico, Virginia for New Industrial Development

by Julia Sanders

HENRICO, VA. — Becknell Industrial has acquired an 83.4-acre parcel within Sauer Industrial Center in Henrico with plans to construct two Class A facilities totaling more than 725,000 square feet. The sales price and seller were not disclosed. Sauer Properties is partnering with Becknell Industrial to develop the first phase of Sauer Industrial Center. Building 1 will total 446,692 square feet of cross-docked space and Building 2 will be a 279,319-square-foot rear-loaded facility. Both buildings will feature ESFR sprinkler systems, LED lighting with motion sensors and ample dock packages. Both buildings are scheduled for delivery in May 2022. Located on Seven Hills Boulevard in east Henrico County, Sauer Industrial Center is located within one mile of Richmond International Airport. Sauer Industrial Center is a master-planned industrial park spanning 3.3 million square feet. The industrial property will be complete over a span of three phases. Clifford Porter of Porter Realty Co. Inc./CORFAC International is the exclusive leasing agent for the new development and represented Becknell Industrial on the land purchase.

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Siena-Park-Arlington
AcquisitionsMultifamilySoutheastTop StoriesVirginia

JLL Negotiates $80.1M Sale of Siena Park Apartments in Arlington, Virginia

by Taylor Williams

ARLINGTON, VA. — JLL has negotiated the $80.1 million sale of Siena Park, a 188-unit apartment community located in the Washington, D.C., suburb of Arlington. The price equates to approximately $426,000 per unit. The property, which is located near multiple public transit stations and shopping and dining destinations, also houses 33,602 square feet of retail and 17,373 square feet of office space. Residential units feature studio, one- and two-bedroom floor plans and have an average size of 844 square feet. Units are also furnished with stainless steel appliances, contemporary cabinetry, granite countertops, kitchen islands and built-in bookshelves. Communal amenities include a fitness center and weight room, game room with billiards, clubhouse, outdoor pool, rooftop deck, coffee bar and cybercafé. Walter Coker, Brian Crivella, Robert Jenkins and Bill Gribbin of JLL represented the seller, Zurich Alternative Management, in the transaction. The buyer was not disclosed. — Taylor Williams

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Featherstone Industrial Park
AcquisitionsIndustrialSoutheastVirginia

Finmarc Management Sells Industrial Portfolio in Woodbridge, Virginia for $104.2M

by Julia Sanders

WOODBRIDGE, VA. — Finmarc Management Inc. has sold a 14-building industrial portfolio in Woodbridge for $104.2 million. The buyer was a joint venture between Stockbridge Capital Group and Rosenthal Properties. Gerry Trainor, Caulley Derringer and Jim Cardellichio of Transwestern represented Finmarc in the transaction, and Joe Hoffman of Kelley Drye & Warren provided legal services to the Bethesda, Md.-based firm. The portfolio, which is located within Featherstone Industrial Park, includes nearly 740,000 square feet of warehouse and industrial space. The portfolio was 93 percent leased at the time of sale to tenants including Coleman Worldwide Moving, Foundation Building Materials, General Services Administration and Joe Moholland Moving. Featherstone Industrial Park is located adjacent to Jefferson Davis Highway, two miles from Interstate 95, 25 miles from Washington, D.C. and 30 miles from Dulles International Airport. The properties were part of a larger 16-building portfolio acquired by Finmarc in 2017.

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Meridan at Braddock
LoansMultifamilySoutheastVirginia

Berkadia Secures $86M in Financing for Meridian at Braddock Station Apartments in Alexandria, Virginia

by Julia Sanders

ALEXANDRIA, VA. — Berkadia has secured an $86 million loan to refinance Meridian at Braddock Station, a 480-unit multifamily property located in Alexandria. An undisclosed national life company provided the borrower with the 10-year, interest-only loan. J. Tyler Blue, Paul Wallace, Robbie Driscoll and Pat Cunningham of Berkadia arranged the financing. Located at 1200 First St., Meridian at Braddock Station is a 16-story high-rise situated about 7.5 miles from Washington, D.C. The property is also 6.3 miles from Northern Virginia Community College and 7 miles from George Washington University. Built in 2000, the property offers studio, one- and two-bedroom floorplans with recently renovated units featuring wood plank flooring, quartz countertops and stainless steel appliances, as well as breakfast bars and glass enclosed sunrooms in select units. Community amenities include a rooftop terrace with a swimming pool and sundeck, clubroom with billiards, fitness center, courtyard lounge with barbecue grills and a dog park.

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Hardywood Village
LoansMultifamilyNorthmarqSoutheastVirginia

NorthMarq Arranges $34M Construction Loan for Hardywood Village in Richmond

by Julia Sanders

RICHMOND, VA. — NorthMarq has arranged a $34 million loan for the construction of Hardywood Village, a 189-unit multifamily property with ancillary retail space located at 1601 Overbrook Road in Richmond. Construction is scheduled to be completed by summer or fall 2022. The loan was structured with a 30-year fully amortizing term. Keith Wells and Reina Abboud of NorthMarq arranged financing for the undisclosed borrower through its relationship with the Virginia Housing & Development Authority.

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AcquisitionsCompany NewsData CentersDistrict of ColumbiaIndustrialLife SciencesMarylandOfficeSoutheastTexasTop StoriesVirginia

PRP Sells Four Office Campuses for $1B, Makes $2B Commitment for Logistics and Data Center Acquisitions

by John Nelson

WASHINGTON, D.C. — PRP, a privately held real estate investment and management firm based in Washington, D.C., is making a sea change as it looks to bolster its logistics and data center portfolio and churn its office assets. The company is in the process of selling four office campuses in separate deals totaling more than $1 billion. At the same time, PRP is allocating $2 billion to acquire logistics facilities leased to credit-worthy companies in primary and secondary markets, as well as data centers and land zoned for future data centers. The specific locations of the assets were not disclosed. “The assets that we are acquiring are located in attractive markets backed by solid demographics, high barriers to entry and historically high industrial occupancy rates,” says Joe Neckles, managing director of net lease acquisitions at PRP. “The logistics and data center sectors remained highly resilient throughout the pandemic and continue to grow at rates well in excess of inflation.” The office assets that PRP is selling include Sequoia Plaza, a 370,000-square-foot campus spanning three buildings in Northern Virginia’s Arlington County. The property houses the headquarters of Arlington County’s Department of Human Services and the Arlington County Public School System. An …

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